CP385.1 
B37N 


N.C.  GENERAL  ASSEMBLY  BILL 

TO  INCORPORATE  THE 
BEAUFORT  AND  N.C.  RAILROAD 


[Senate  Doe.  74.] 


A   B  1  L  L 


INCORPORATE 


THE 


BEAUFORT  AND  NORTH  CAROLINA 


RAIL  ROAD  COMPANY. 


RALEIGH: 

Thos.  J.  Lemay,  Printer  to  the  State. 
I860, 


Dec.  11,  1850.. 
[Introduced  by  Mr.  ARENDELL.     Passed  first  reading  and 
referred  to  Committee  on  Internal  Improvement  and  ordered  to  be 
printed.] 


A  BILL 

To  incorporate  the  Beaufort  and  North  Carolina  Rail  Road 

Coin  pan  y. 

I.     Be  it  enacted   by  the    General  Assembly  of  the 

2  State  nf  North  Carolina  and  it  is  hereby   enacted  by 

3  the  authority  of  the  same,  That  for  the  purpose     of  ef- 

4  fecting  a  Rail  Road  communication  between  the  waters 

5  of  Beaufort  Harbour,   in   the  County  of  Carteret,  and  the 

6  North  Carolina   Rail  Road  at  its  junction    with  the   Wil- 

7  mington    and    Raleigh  Rail   Road,   in    the  County  of 

8  Wayne,  the  formation  of  a  corporate  company,  with  a- 
^  capital  stock  of 

10  dollars,  is  hereby    authorised,   to  be  called  the  Beaufort 

11  and  North  Carolina    Rail    Road    Company;  and   when 

12  formed  in  compliance  with  the  conditions  herein  after 

13  prescribed,    to    have    a  corporate  existence  as  a  body 

14  politio-in  perpetuity. 

II.  That  the  said  Company  be,  and  the   same  is   hereby 

2  authorised  to  construct  a   Rail  Road  from  the  waters  of 

3  Beaufort  Harbour 

4  to  thp  North  Carolina  Rail  Road  at  its  junction   with  the , 

5  Wilmington  and  Raleigh  Rail  Road. 

III.  That  lor  the  purpose  of  creating  the  capital  stock   of 
'2  said  Company,    the  following;  persons  be;  and  they  are 

3  hereby   appointed  Commissioners,   viz: 

4  whose    duty    it 

5  shall  be  to  direct  the  opening  of  books   for    subscription 

6  of  stock,  at  such  times  and  places,  and  under  the  direc- 

7  tion  of  such  persons  as  they  or  a  majority  of  them  may 

8  deem   proper;    and   the  said   commissioneis  shall   have 

9  power  to  appoint  a  chairman  of  their  body,  Treasurer 
10  and  all  other  officers,  and  to  sue  tor  and  recover  all  sums 
1L  of  money  that  ought  under  this  act  to  be  received  by 
12  them. 

IV.  That  all  persons  who  may  hereafter  be  authorized  to 

2  oppn  books  for  subscription  of  stock  by  the   commission- 

3  ers  herein  appointed  for  that  purpose,   shall   open   said 

4  books  at  any  time  after  the  ratification  of  this  act,  twenty 

5  days  previous  notice  being  given  in   some  orje   or   more 

6  public  newspaper  or  papers  in  this  State;  and  that   said 

7  books  when  opened  shall  he  kept  open  for thespace  of  thirty 

8  days  at  learst  and  as  long  thereafter  as  the  Commissioners 

9  first  above  mentioned  shall  direct ;  that  all  subscriptions 
10  of  stock  shall  be  in  shares  of 


842 

11  each,  the  subscribers  paying  at  the  time  of  making   such 

12  subscription  five  dollars  on  each  share  thussubscribed  to  the 

13  person  or  persons  authorised  to  receive  such  subscription, 

14  and  in  case    of  failure   to  pay   such   sum   all    such  sub- 

15  scriptions  shall  be  void  and  of  no  effect;  and  upon  clos- 

16  ins:  the  books  all  such  sums  asshall  have  been  thus  received 

17  of  subscribers  on  the  first  cash    instalment,  shall  be   paid 

18  over  to  the  general  commissioners    named    in  the    third 

19  section  of  this  act  by  the  persons  receiving  them,  and  for 

20  failure  thereof  such  person  or  persons  shall  be  personally 
2L  liable  to  said  general  commissioners,  before  the  organiza- 

22  tion  of  said  company  and  the  company  itself  after  its  or- 

23  ganization,     to   be    recovered    in     the    superior    court 

24  of  law  within  this  State,  in  the  county  where  such  deliu- 

25  quent  resides  or   if  he   resides  in  any  other   State,    then 

26  inanycouit   in  such  State   having   competent  jurisdic- 

27  tion-     The  said  general  commissioners  shall  have  power 

28  to  call  and  require  all  persons  empowered  to  receive  sub- 

29  scriptions  of  stock  at  any  tun's  and  from  time  to  time  as 

30  a  majority  of  them  miy  think  proper,    to  mike  a    return 
3L  of  the  stock  by  them  respectively  and  to  mike   payment 

32  of  all  sums  of  money  made  by  the  subcribers.     That   all 

33  persons  receiving  subscription   of  s'.ock    shall  pass    re- 
3|  ceipts  to  the  subscribers  for  the  payment   of  the    first  in- 

35  stalment,    as  heretofore  required   to  be   paid  ;  and  upon 

36  their  settlement  with  the  general  Commissioners,    as  a- 

37  foresaid,  itshall  be  the  duty  of  the  said  general  commission-? 

38  ers  in  like  manner  to  pass  their  receipt  for  all  sums  thus 

39  received  to  the  persons  from  whom  received,  and  such  re- 

40  ceipts  shall  be  taken  and  held  to  be  good  and   sufficient 

41  vouchers  to  the  persons  holding  them,  that  subscriptions 

42  of  stock  thus  received  to  an  amount  not  exceeding 
43 

V.  It  shall  be  the  duty  of  said    general    commissioners  to 

2  direct  and  authorize  the   keeping  open  of  books  for  the 

3  subscription  of  stock  in  the  manner  above  described    un^ 

4  til  the  sum  of 

5  dollars  shall  have  been  subscribed  to  the   capital  stock  of 

6  said  company;  and  as  soon  as  the  sum  of 

7  dollars  shall  have  been  subsciibedand  the  first  instalment  of 

8  five  dollars  per  share  on  said  sum  shall  have  been  receiv- 

9  ed  by  the  general    commissionrs,  said  company  shall  be 

10  regarded  as  formed  ;   and  the   said   commissioners,    or  a 

11  majority     of    them,     shall  sign    and   seai   a   duplicate 

12  declaration  to  that   effect,     with    the  names   of  the    said 

13  subscribers  appended,  and  cause  one  of  said  duplicates  to 

14  be  deposited  in  the  office  of  the  Secretary  of  State  ;  and 


S 


343 

15  thenceforth  from  the  closing  of  il;e  books  of  islriljt&ripfren 

16  as  aforesaid,  the   said   subscribers   to    the  stock   shall 

17  form  one  body  politic  and   corporate,  indeed  mx\   inlaw, 

18  for  the  purposes  aforesaid,   by  the  name  and  style   of  the 

19  [Beaufort  and  North  Carolina  Rail  lloud  Company.] 

VI.  That  whenever  the  sum  of 

2  dollars  shall  be  subscribed  in  manner  and  form  aforesaid, 

3  the    subscribers,  their  bixecuXo'is,  Administrators  and  as- 

4  signs,  shall  be,  and  they  are  hereby  declared  to  be  incorpo- 
£  rated  into  a  company,    by  the   name   and   style    of  the 

6  "Beaufort   and    North  Carolina  Rail    Koad  company;" 

7  and  by  that  name  shall  be  capable  in  law  and   in   e<pii  y 

8  of  purchasing,  holding,  selling,  leasing,   and    conveying, 

9  estates  real,  personal  and  mixed,  and  acquiring  the  smie 
10  by  gift  or  devise,  so  far  as  shall  be  nects>ary  fur  the  pur- 
1L  poses  within  the  scope,  object  r.nd  interest  _<>f  their    char- 

12  ter,  and  no  further ;  and  shall  have  perpetual  succes^on., 

13  and  by  their  corporate  name  may  sue  and  he  sued.,  plead 

14  and  be  impleaded,  in  any  Court  of  law  and  equity   in  the 

15  State  of  North  Carolina;  and  may  luive  and  use  a    corn- 
1(3  inon  seal,  which  they  may  alter  and  renew   at   pleasure, 

17  and  shall  have  and  enjoy  all  other  rights  and  immunities 

18  which  other  corporate  bodies  may    and  of  riyht    do  exer- 

19  cise  ;  and  may  make  all  such  by-laws,  rules  and   regula- 

20  tions,  as  are  necessary  for  the  government    of  the  coipo- 

21  ration,  or  effecting  the  object  for   which  it  is  created,  not 

22  inconsistent  with  the  constitution  and  laws  of  the  United 

23  States  and  of  the  State  of  North  Cniolina. 

VII.  That  notice  of  process  upon    the  principal  agents  of 

2  said  company,  or  the  president  or  any  of   the  directors 

3  thereof,  shall  be  deemed  and  be  taken  to  be  due  and  law- 

4  ful  notice  of  service  of  process    upon   the  company  so  as 

5  to  bring   it   before  any  court  within  the  State  of  North 

6  Carolina. 

VIII.  As  soon  as  the  sum  of 

2  dollars  shall  have  been  subscribed,  in  manner  afore- 

3  said,  it  shall  be  the  duty  of  the   general    commissioners 

4  appointed  under  the  third  section  of  this   act,  to  appoint 

5  a  time  for  the  stockholders  to  meet 

6  ,  which  they  shall  cause 

7  to  be  previously  published  for  the  space  el  thirty  days,  in 

8  one  or  more  newspapers,   as  they   may  deem   proper;  tit 

9  whk.h  time  and  place  the  said  stockholders,    in  person  or 

10  proxy,  shall  proceed  to  elect  the  directors  of  the  compa- 

11  ny,  and  to  enact  such  regulations  and  by  laws,  as  may  be 

12  necessary  for  the  government  of  the  corporation  and  the 

13  transaction  of  its  business.    The  persons  elected  directors 


( 


344 

It  at  diis  meeting  shall   serve  such  period  not  exceeding; 

15  oakyf-a",   as    t'.e  stockholders    may  direct,   and  at   this 

16  meeting,  the  stockholders  shall  fix  on  the  day  and    place 

17  or  places  where  the  subsequent  election  of  directors.shall 
IS  be  he'd;  and  such  elections  shall  henceforth  be  annually 

19  made,  but  if  the  day  of  the  ann-ualelection  should  pass  with- 

20  out  any  election  of  directors,   the  corporation   shall  not  be 

21  thereby  dissolved,  but -it  shall  be  lawful  on  any  other  day  to 

22  hold  and  make  such  election  in  such  manner  as  may  be 
£3  prescribed  by  a  by-law  of  of  the  corporation, 

IX.  That  the  affairs  of  the  company  shall  be  managed 
2.  and  directed  by  a  general  board   to   consist  of  twelve  di- 

3  rectors  to  bo  elected  by  the  stockholders  from  among  their 

4  nnrnber  at  their  Iirst  and  subsequent  general  annual  meet- 
.5  iri-s  as  prescribed  in  section  8th  of  ibis  act. 

X.  That  the  election  of  directors  shall  be  by  ballot,  each 
2  stockholder  having  as  many  votes  as  he  has  shares  in  the 
".5  stock  of  said  company,  and  the  person  having  a  majority 

4  of  all  the  votes  police!  shall   be  considered   as  duly  elect- 

5  edl 

XL   That  the  president   of  the  company    shall  be  elected 

2  by  the  directors  from  among  their  number,  in  such  a  man- 

3  lies  as  the  regulations  of  the  company  shall  prescribe. 
XH.  That  at  the  first  general  meeting  of  the  stockholders, 

2  directed  to  be  called  under  section  8th  of  this  act,  a  majo- 

3  nty  of  ail  the  shares  subscribed  shall  be  represented  be- 
4-  lore  proceeding  to  business*  and  if  a  sufficient  number  d<5 
5  not  appeir  on  tiie  day  appointed,  those  who  do  attend 
Vi  shall  have  power  to  adjourn  from  time  to  time  until  a  re- 

7  guhir  meeting  shall  be  thus  formed  ;    and    at  such  meet- 

8  jog  tire  stockholders  may  provide  by  a  by-law  as  to  the 
0  number  of  stockholders  and    the    amount  of  stock  to   be 

10  held  by  them,  which  shall  constitute  a  quorum  for  the 
1  i  transacting  business  at  all  subsequent  regular  or  occasion- 
12  a!  meetings  of  stockholders  and  directors. 

XIII.  That  at  all  elections  and  upon    all  votes    taken    in 

2  any  general  meeting  of    the  stockholders,    upon  any    by- 

3  law  or  any  of  the  affairs  of  said  company,    each   share  of 

4  stock  shall    be  entitled  to  one   vote,   and  that  any  stock- 

5  ho'der  in  snid  company  may  vote  by  proxy  and  proxies 
t>  may  be  verified  in  such  a  manner  as  the  stockholders  by 
7  by-laws  may  prescribe. 

XIV.  That  the  general  commissioners  shall  make  their  re- 

2  turn  of  the  shares  of  stock  subscribed  for  at  the  first  sen- 

3  era  I  meeting  of  stockholders,    and  pay  over  to    the  direc- 

4  tors  clcetvd  at  said 'iiceting,   or   their  authorized   agent, 


5  all  sums  of  money  received  from  subscribers,  and  (or  (u\\- 

6  ure  thereof,  shall  be   personally  liable  to  .said  company, 

7  to  be  recovered  at  the  suit  of  said  company,  in  atiyohhe 

8  superior  courts  of  law  in  this   State    within  the  County 

9  where  such  delinquent  or  delinquents  may  resile,  and  m 

10  like  manner  from  said  delinquent's  executors  cr  adminls- 

11  trators,  in  case  of  his  or  their  deatii.. 

XT.  That  the  board  of  directors  may  fill  .sll  vacances  which 

2  may  occur  in  it  during  the  period    for  which    they    have 

3  been  elected,  and  in  the  absence  of  the  pr<  sidc-nt,  may  ihl 

4  his  place  by  electing  a  president  pro  tempore  from  among 

5  trreir  number. 

XVI.  That  all  contracts  or  agreements,  authenticated  ly 
2f  the  President  and  Secretary  of  the  board  of  directors, 
3  shall  be  binding  on  the  company  without  a  seal,  or  such  a 

4,  mode  of  aujhenlication  may    be   used  as  the  company  by 

5  their  by-laws  may  adopt. 

XVII  That  the  company  shall  have  power  and  may  proceed 

2  to   construct  as  speedily  as  possible,   a  rail  road,  whh  <Mi'J 

3  or  more  tracks,  to  be  used  with  steam  power,  winch  shall 

4  extend  from  the  waters- of  Beaufort  Harbour  to  (lit?  rjsonh 

5.  Carolina  Rail  Road,  at  its  junction  with  the  Wihuingloa 

6  and  Raleigh  Rail  Road,  in  the  county  of  Wayne::    Suid 

7  company  may  use  any    part    ofihe   Rail   Road  const rnc*- 

8  ed  by  them  before  the  whole  of  said   road-  shall  be   cqm- 

9  pleted. 

X.VIIL  That  the  said  company  shall  have  the  exclusive 
2..  right  of  conveyance  or  transportation  of  persons,  good^ 

3  merchandise  and   produce  over   the  said  rail  read,    so  !-,« 

4  by  them  constructed,  at  such  charges  as  may  be  fixed  on 

5  by  a  majority  of  the  Directors. 

XIX.  That  the  said  company  may,  when  they  see  fit, 
2_  farm  out  their  right  of  transportation  over  saW  Rail  Road, 

3  subject  to  the  rules  above  mentioned;  and  said  company 

4  and  every  person  who  may  have  received  from  them  the 

5  right  of  transportation  of  goods,  wares,  produce  and  mer- 

6  chandise  entrusted   to  them  for    transportation 

XX.  That  the  board  of  directors  may  call  for  the  p-jyaiesjt 

2  of  the  sums  subscribed    as    stock  in    said    company  hi 

3  such  instalments  as  the  interest  of  said  company  may  in 

4  their  opinion  require  .'  the  call  of  each   payment   shall  lis 

5  published  in  one  or  more  newspapers  in  this  State  for  tha 

6  space  of  one  month  before  the   day  of  payment  .-  and oa 

7  failure  of  any  stockholder  to  pay  each  instalment  as  thus 

8  required,  the  directors  may  sell  at  public  auction,  on  a  pre- 

9  vious  notice  of  ten  daySj  for  cash,  all  the  stock  subscrib- 


1(»  cd  iV„-  in  said  company,  by  such  stockholder,  and  convey" 
1  I  the  some  to  the  purchaser  at  said  sale  :  end  if  said  sale 
12  o;  stoHv  dors  not  produce  n  sum  sufficient  to  pay  off  the 
U  incidental  expenses  of  the  sak;  and  the  entire  amount 
n  n\viug_  by  sue.  stockholder  to  the 'company  for  sucli 
U  8ii,tsc,iniion  of  stork  then  and  in  that  case  the  whole 
lb  of  such  b dance  shah,  he  held  and  taken  as  due  at  once  to 

1  /  the  company,  and  may  be  recovered  of  such  stockholder  or 
\S  his  executrrfs,  administrators  or  assigns,  at  the  suit  of  said 
l.»  company,  eiliieT  by  summary  motion  in  any  court  of  ?u- 

20  perior  jurisdiction  in  the  county  where  the  delinquent  re- 

21  side's,  on  a  previous  notice  often  days  to  said  subscriber, 
il  or  by  the  action  of  assumsit  in  any  court  of  competent  jur- 

23  isdiction,  or  by  a  warrant  before   a  justice  of  the  peace 

24  where  the  sum  does  not  exceed  one  hundred  dollars-  and 
2.7  in  all'  eases  of  assignment  of  stock,  before  the  whole  a- 
2b  mount  has  be-n  paid  to  the  company,  then  for  all  sums 
27  due  on  such  stock,  both  the  original  subscribers  and  the 
23  rust    and    all    suhseqent   assignees    shall    be    liable    to 

29  the  company,  and  the  same    may  be  recovered  as  above 

30  described. 

XXI.  That  the  debt  of  stockholders,   due  to  the  company 

2  for    stock  therein,    either  as   original    proprietor   or   as 

3  first  or  subsequent  assignee  shall  be   considered  as  of  e- 

4  qua!  dignity  with  judgments  in  the  distribution  of  assets 

5  of  a  deceased  stockholder,  by  his  legal   representatives. 

XXII.  That  said  company  shall  issue  certificates  of  stock 

2  to  its  members,  and  said  stock  may  be  transferred  in  such 

3  manner  and  form  as  may  be  directed    by  the  by-laws  of 

4  the  company. 

XXIII.  That  the  said  company  may  at  anytime,  increase 

2  its  capital  to  a  sum  sufficient  to  complete  said  fioad  not 

3  exceeding  do„ 

4  either  by  opening  books  for  new  stock,  or  by  selling  such 

5  new  stock,  or  by   borrowing  money  on    the  credit  of  the 

6  company,  and  on  the  mortgage  of  its  charter  and  works- 

7  and  the  manner  in  which  the  same  shall  be  done,  in  eith! 

8  er  cases  shall  be  prescribed  by  the  stockholders  at  a  gene" 

9  ral  meeting.  ° 
%%W.  That  the  board  of  directors  once  in  every  year    at 

I  .east,  make  a  full  report  of  the  state  of  the  com- 
•>  pany.  and  its  affairs,  to  a  meeting  of  the  stock-hold" 
4  er?,  and'  oftener,  if  required  by  a  by-law,  and  shalf 
o  nave  power  to  call  a  general  meeting  of  the  stockhold- 
b  ers,  when  the  board  may  deem  it  expedient;  and  the 
7  company  may  provide,  in  the'r  bvdaws,  for  occassional 
$  meetings  being  called  and  p- . scribe  the  mode  thereof. 


347 

XXV.  That  the  said  company  may    purchase,  have   and 

2  hold,  in  fee,  or  for  a  terrh  of  years,  any  land,  tenements, 

3  or  hereditaments,  which  may    be  necessary  for  the  said 

4  Road,  or  the  appurtenances  thereof,  or  for  the  erection  of 

5  of  depositories,  store  houses,   houses  for  the  officers,  ser- 

6  vants  or  agents  of  the   company,   or   for  work  shops  or 

7  foudaries,  to  be  used  for  the  said  company,  or  for  procur 

8  ing  stOne   or   other  materials  necessary  to  the  construc- 

9  tion  of  the  Road,  or  for   effecting  transportation  thereon; 
10  and  for  no  other  purpose  whatever. 

XXVI.  That  the  company  shall  have  the  right  when  ne- 

2  cessary  to  conduct  the  said   Road'  across  or  along  any 

3  public  Road   or  water  course/  Provided',    That"  the  said 

4  company  shall   not   obstruct   any   public  road,    without 

5  constructing  another  equally  as  good  and  as  coriveriienf, 

6  nor  without  making  a  draw  in  any   bridge  Of  said  road 

7  which  may  cross  a  navigable'  stream,  sufficient  for  the 

8  passage  of  vessels  navigating  such  stream. 

XXVII.  That  when  any  lands  or  right  of  way  may  be  re- 

2  quired  by  said  company  for  the  purpose  of  constructing 

3  their  road,  and  for  wantot  agreement  as  to  the  value  there- 

4  of,  or  from  any  other  cause,  the  same  cannot  be  purchag- 

5  ed  from  the  owner  or  owners,  the  same  may  be  taken  at  aval- 

6  uation  to  be  made  by  five  commissioners,  or  a  majority  of 

7  them,  to  be  appointed   by   any  court  of  record,  having 

8  common  law  jurisdiction  in  the  County  iv* here  some  part 

9  of  the  land  or  right  of  way  is  situated.     In   making  the 

10  said  valuation,   the  said    commissioners  shall   fake  into 

11  consideration    the    loss     Or    damage    which    may   ac- 

12  crife  to   ihe   owner   or  owners    in  consequence   of  tile 

13  land  ©r  the  right  of  way  being  surrendered,  and 
1-1  the  benefit  and  damages,  he,  she  or  they  may  receive 
15  from  the  erection  or  establishment  of  the  rail  road  or 
10  work,  and  shall  state  particularly  the  value  and  amount 
1'7  of  each  ;  and  the  excess  of  loss  and  damage,  over  and  a^ 
IS  bove  the  advantage  and  benefit,  shall  form  the  measure 
19  of  valuation  of  the  said  land  or  right  of  way  :  Provided, 
2!Q  nevertheless,  that   if  any  person  or  persons  over   whose 

21  land  the  road  may  pass  shall  be  dissatisfied  with  the  valu- 

22  ation  of  said    commissioners,   then  and  in  that  case,  the 

23  person  or  persons  so  dissatisfied    may  have    an  appeal  to 

24  the  Superior  Court,  in  the  County  where  the  said  valua- 

25  tion  has  been  made,  or  in  either  county  in  which  the 
25  land  lies,  when  it  may  lie  in  more  than  one  county,  un- 
27  der  the  same  rules,  regulations  and  restrictions  as  in  ap- 
23  peals  from  judgments  of  justices  of  the  peace.     The  pro- 

52- 


348 

29  ceedings  of  the  said  commissioners,  accompanied  with  a 

30  full  description    of  the  said  land    or  right  of  way,  shall 
3L  be  returned  under  the  hands  and  seals  of  a  majority  of  the 

32  commissioners,  to  the  court  from  which    the  commission 

33  issued,  thereto  remain  a  matter  of  record.  And  the  lands 

34  or  right  of  way  so  valued  to  the  said  commissioners,  shnll 

35  vest  in  the  said   company  so  long  as  the  same  shall  he 

36  used   for   the    purposes    of  said  rail  road,   so     soon   as 

37  the    valuation   may  be  paid,  or  when  refused,   and  may 

38  have  been  tendered:  Provided,    That  on   application  for 

39  the  appointment  of  commissioners,   under  this  section  it 

40  shall  be  made  to  appear  to  the   satisfaction    of   the  court 
4L  that  at  least  ten  days  previous  notice   has    been  given  by 

42  the  applicant  to  the  owner  or  owners  of  land  so  proposed 

43  to  be  condemned,  or  if  the  owner  or  owners  be  infants  or 

44  non  compos  mentis,  then  to  the  guardian  of  such  owners  if 

45  such   guardian  can  be  found  within  the  county,  or  if  he 
40  cannot   be  so  four.d,  then  such  appointment  shall   not  be 

47  made  unless  notice  of  the  application    shall-  have  been 

48  published,  at  least    one  month  next   preceding,   in  some 

49  newspaper  printed  as  convenient  as  may    be  to  the  court 

50  house  of  the  county  and  shall  have  been  posted  at  the  door 

51  of  the    court  house  on  the  first  day  of  the  term  of  said 

52  court,  to  which  the  application  is  made:  Provided  further  r 

53  That  the  valuation  provided  for  in  this    section  shall  be 

54  made  on   oath  by  the  commissioners  aforesaid,    which 

55  oath,  any  justice  of  the  peace,  or  clerk  of  the  court  of  the 

56  county  in  which  the  land   or  a  part  of  it  lies,  is  hereby 

57  authorized   to  administer  :    Provided  further,    That  the 

58  right  of  condemnation  herein  granted  shall  not  authorize 

59  the  said  company  to  invade  the  dwelling  house,   yard, 

60  garden  or  burial  ground  of  any  individual,  without  his 
01  or  her  consent. 

XXVIII.  That  the    right    of  said  company  to  condemn 

2  lands  in  the  manner  described  in  the  27th   section  of  this 

3  act,  shall  extend  to  the   condemning  one  hundred  feet  on 

4  each  side  of  the  main  track  of  said  road,  measuring  from 

5  the  centre  of  the  same,  unless  in  case  of  deep  cuts  andfill- 

6  ings  when  said  company  shall  have  power  to  condemn  as 

7  much  in  addition  thereto  as  may  be  necessary  for  the  pur- 

8  pose  of  constructing  said  road,  and  the  company  shall  al- 

9  so  have  power  to  condemn  and    appropriate  lands  in  like 

10  manner,  for  the  constructing  and  building  of  depots,  shops, 

11  ware-houses,  buildings  for  servants,    agents  and  persons 

12  employed  on  the  road,  not  exceeding  two  acres  in  any  one 

13  lot  or  station. 

XXIX.  That  in  the  absence  of  any  contract   or   contracts 


349 

2  with  said  company,  in  relation  to  lands  through  which  the 

3  said  road  or  its  branches  may  pass,  signed  by  the  owner 

4  thereof  or  by  his  agent,  or  any  claimant  or  person  in  pos- 

5  session  thereof,  which  may   be  confirmed    by  the  owner 

6  thereof,  it  shall  be  presumed  that  the  land  upon  which  the 

7  said  road  or  any  of  its  branches   may  be   constructed,  to- 

8  gether  with  a  space  of  one    hundred  feet  on   each  side  of 

9  the  centre  of  said  road,  has  been  granted  to  the  said  com- 

10  pany,  shall  have  good  right  and  title    thereto,  and  shall 

1 1  have,  hold  and   enjoy   the  same  as    lon<j  as  the  same    be 

12  used  for  the  purposes  of  said   road  and  no  longer,  unless 

13  the  person  or  persons  owning  the  said  land  at  the  time  that 

14  part  of  the  said  road  which  may  be  on  the  said  land,    was 

15  finished,  or  those  claiming  under  him,  her  or  them  shall 

16  apply  for  an  assessment  of  the  value  of  the  said  lawds,   as 

17  herein    before     directed,     within    two    years     next    af- 

18  ter    that  part   of   said    road     which     may  be   on    the 

19  said    land,    was   finished  ;   and   in    case    the  said  own- 

20  er  or  or  owners,  or  those   claiming  under  him,  her  or 

21  them  shall  not   apply  within  two  years  next  after  the 

22  said  part  was^finished,  Iip,  she  or  they  shall  be  forever  bar- 
2'3  red  from  recovering  said  land  or  having  any  assessment 

24  or  compensation  thereof:  Provided,  nothing   herein  con- 

25  tained  shall  affect  the  rights  of  feme  coverts  or  infants, 
20  until  two  years  after  the  removal  of  their  respective  dis- 
27  abilities. 

XXX.  That  all  lands  not  heretofore  granted    to  any  per- 

2  son  nor  appropriated  by  law  to  the  use  of  the  State,  with- 

3  in  one  hundred  feel    of  the   centre    of  said  road,    which 

4  may  be  constructed  by  the   said   company,  shall  vest  in 

5  the  company  as  soon  as  the    line  of  the  road  is  definitely 

6  laid  out  through  it,  and  any  grant  of  said  land  thereafter 

7  shall  be  void. 

XXXI.  That  if  any  person  or  persons  shall  intrude  upon, 

2  said  rail  road   by   any  manner  of  use    thereof  or  of  the 

3  rights  or  privileges  connected  therewith,  without  the  per- 

4  mission  or  contrary  to  the  wiilsof  said  company,  he,  she  or 

5  they  may  be  indicted  for  misdemeanor,  and  upon  convic- 

6  tion,.  fined  and  imprisoned  by  any  court  of  competent  ju- 

7  risdiction. 

XXXII.  That   if  any   person   shall  wilfully  and  tnalici- 

2  ously  or  in  any   manner  hurt  or  damage  or  obstruct,  or 

3  shall   wilfully  or  maliciously  aid  or  assist,  counsel  or  ad- 

4  vise  any  other  person  or  persons   to  destroy    or  in   any 

5  manner  to  hurt,  damage  or  destroy,  injure  or  obstruct  the 
0  said  rail  road,  or  any  bridge  or  vehicle  used  for  or  in 
7  the  transportation  thereon,  any  water-tank,  ware. house,  or 


350 

8  any  other  property  of  said  company,  such  person  or  per- 

9  sons  so  offending,  shall  be  liable  to  be  indicted  therefor, 

10  and  on  conviction,  shall  be  imprisoned  not  more  than  six 

11  nor  less  than  one   month,   and  pay  a   fine  not  exceeding 

12  five  hundred  dollars,  nor  less  than  twenty  dollars,  at    the 

13  discretion  of  the  court  before  which  said  conviction  shaj.l 

14  take  placej  and  shall  be  further  liable  to  pay  all  expenses  o<f 

15  repairing   the  same:  and  it  shall  not  be  competent  for  any 

16  person  so  offending  against  the  provision  of  this  clause  to 

17  defend  himself  by  pleading  or  giving  in  evidence  that  he 

18  was  the  owner,  agent  or  servant  of  the  owner  of  the  land 

19  where  such  destruction,  hurt,  damage,  injury,  or  obstruction 

20  was  done  at  the  tin?e  the  same  was  done,  or  caused  to  be 
2L  done. 

XXXIII.  That  every  obstruction  to  the    safe  and  free 

2  passage  of  vehicles  on  the  said  road  or  its  branches,  shall 

3  be  deemed  a  public  nuisance,  and  may  be  abated  as  such 

4  by  any  officer,  agent  or  servant  of  said  company;  and  the 

5  person  causing  such  obstruction  may  be  mdictedand  pun- 

6  ished  for  erecting  a  public  nuisance. 

XXXIV.  That  the  said  company  shall    have  the  right  to 

2  take  at  the  store  houses  they  may  establish  on,  or  annex 

3  to    their   rail  road,  or  the  branches  thereof,    all  goods, 

4  wares,  merchandise  and  produce  intended  tor  transporta- 

5  tion,  prescribe  the  rules  of  priority   and  charge,  and  rer 

6  ceive  such  just  and  l-sasonable  compensation  for  storage, 

7  as  they  by  rules  may  establish,   (which  they  shall  cause 

8  to  be  published.)  or  as  may  be    fixed  by  agreement  with 

9  the  owner,  which  may  be  distinct  from  the  rates  of  trans- 
10  portation  :  Provided,  That  the  said  company  shall  not 
II.  charge  or  receive  storage  on  goods,  wares,  merchandise 
3  2  or  produce,  which  may  be  delivered   to  their  regular  de- 

13  positories  for    immediate  transportation,    and  which  the 

14  company  may  have  power  to  transport  immediately. 

XXXV.  That   the    profits   of  the  company,   or  so  much 

2  thereof  as  the  general  board  may  deem  advisable,   shall, 

3  when  the  affairs  of  the  company  v.  ill  permit,  be  semi-an- 

4  nually  divided  among  the  stockholders,  in    proportion  to 

5  the  stock  each  may  own. 

XXXVI.  That  whenever  it  shall  appear  to  the  Board    of 

2  Internal  Improvements  of  this  State,    by  a   certificate  un- 

3  der  the  seal  of  said  company,  signed  by  their  Treasurer 

4  and  countersigned  by  their  President,  that  one  third  of  the 

5  capital  stock  shall  have  been  subscribed  for  and  taken,  and 

6  at  least  dollars  of  said  stock  has  been 

7  actually  paid  into  the  hands  of  said  Treasurer  of    sa.id 

8  company,  the  said  Board  of  Internal  Improvements  shall  be 


351 

9  and  they  are  hereby  authorized  and  required,. on   behalf 

10  the  State,  to  subscribe  for  stock  in  said  company  to  the  a- 

11  mount 

12  dollars  to  the  capital   stock   of  said  company  ;   .and   the 
1.3  subscription    shall    be   paid  in  the  following  manner,  to 

14  wit;  The  one  fourth  part  as  soon    as  the   said   company 

15  shall  commence  work,  and  one  fourth   thereof  every  six 

16  months  thereafter  until  the  whole  subscription  in   behalf 

17  of  the  State  shall.be  paid.:  Provided,  The  Treasurer  and 
IS  President  of  said  company  shall,  before  they  receive  the  a- 

19  afoiesaid  instalments,  satisfactorily  assure  the  Board  of  In- 

20  ternal  Improvements,  by  their  certificates  under  the  seal  of 

21  said  company,  that  an  amount  oi  the  private  subscription 

22  has  been  paid  in  equal  proportion  to  ibe  stock  subscribed 
2,3  by  the  State 

XXXVII.  That  if  in  case  the  present  Legislature   shall 

2  not  provide  the  necessary  and  ample  means  to  pay  the  a- 

3  foresaid  instalments    o.n   the  stock  subscribed  for  on  be- 

4  halfofthe  Siate,  as  provided  for  in  the  36th  section  of 
.5  this  act,;  and  in  that  event,  the  Board  of  Internal  Improve- 
,6  ment  aforesaid  shall,  and  they  are  hereby  authorized  and 
*7  empowered  to  borrow,  on  the  credit  of  the  State,  not  ex- 

8  ceeding 

9  dollars,  as  the  same  may  be  needed  by  the  requirements 
10  of  this  act. 

XXXVIII.  That  if  in    case  k  shall   become   necessary 

2  to  borrow  the  money  by  this  act  authorized,   the    Public 

3  Treasurer  shall  issue  the  necessary    certificates,  signed 

4  by    himself    and    countersigned     by     the   Comptroller, 

5  in  sums  not  less  than  one  thousand  dollars  each,.pledg:- 

6  ing    the    State  for    the    payment    of  the    sum    therein 

7  mentioned,  with  interest  thereon  at  the  rate   of  interest 

8  not  exceeding  six  per  .cent,  per  annum,  payable  semi-aii- 

9  nually,  at  such  times  and  places  as  the  Treasurer  may 
10  appoint,  the  principal  of  which  certificates  shall  be  ye- 
ll deeinable  at  the  end   of  thirty  years    from  the  litre  the 

12  same  are  issued  :  but  no  greater  amounts  of  such  certiii- 

13  cates  shall  be  issued  at  any  one  time  than  maybe  sufficiwit 

14  to  meet  the  instalment  required  to  be  paid  by  the  State  at 

15  that  time. 

XXXIX.  Be  it  further  enacted,  That  the  Comptroller 
2  shall  register  the  said  certificates  at  large  in  a  book  to  be  by 
.3  him  kept  for  that  purpose,  at  the  time  he  countersigns 
4  the  same;  and  when  he  delivers  the  same  to  the  Public 
,5  Treasuier,  he  shall  charge  him  in  his  books  with  the  a- 
0  mount  thereof,  and  also  wth  all  such  sums,  if  any,  as 
7  the  public  Treasurer    may    obtain    by  way  of  premium 


8  on  the   sale    of    the    said  certificates,  an    account    of 

9  which  the  Public    Treasurer  shall  render  lo  the  Comp- 

10  troller,  so    soon    as    n^gociations    from   time    to    time 

11  for  the  sale  of  said  certificates  are  closed. 

XL.  Be  it  further  macted,  That  if  it  shall  become  neces- 
2  sary  to  issue  the  certificates  aforesaid,    the  Public  Treas- 

8  tirer  shall  advertise  in  one  or  more  newspapers  as  he  may 

4  think  best,  and  invite,  sealed  proposals  for  such  amount  of 

5  the  aforesaid  sum  ot 

6  dollars,  as  may  be  wanted  at  any  one  time;  and  it  shall  be 
7-  his  duty  to  accept  those  terms  which  may  be  most  advan- 
S  tageoustothe  State;    Provided,   That  in  no  event  shall 

9  any  of  the  said  certificates  be  sold    for  less  than  their  par 

10  value:  and    any  premium    which  may   be     obtained  on 

11  the  sale  of  said  certificates  shall  be  placed    in  the  public 

12  treasury,  and  used  as  other  public  funds  in  the  payment 

13  of  interest  on  the  Jebt  hereby  created. 

XLI.     Be  it  further  enacted,  That  as  security  for  the 

2  redemption  of  said  certificates  of  debt,    the   public  faith 

3  of  the  State  of  North  Carolina   is  hereby  pledged  to  the 

4  holders  thereof,  and  in  addition  thereto  all  the  stock  held 

5  by  the  State  in   the   North    Carolina  Railroad  Company 

6  hereby  created  shall  be  and  the  same  is  hereby  pledged  for 

7  that  purpose  ;  and  any  dividends  of  profit  which  may  from 

8  time  to  time  be  declared  on  the  stock  held  by  the  State  as 
*)  aforesaid  shall  be  applied  to  the   payment  of  the   interest 

10  accruing  on  said  certificates;  but  until  such  dividend  of 

11  profit  may  be  declared,  it  shall  be   the  duty  of  the  Treas- 

12  urer,  and  he  is  hereby  authorized  and  directed,  to  pay  all 

13  such  interest,  as  the  same  may  accrue,  out  of  any  moneys 

14  in  the  Treasury  not  otherwise  appropriated. 

XLII.  Be  it  farther  enacted,  That  the  ceitificates  of 
2  debt  hereby  authorized  to  be  issued,  shall  be  transferable 
8  by  the  holders  thereof,  their  agents  or  attornies,    properly 

4  constituted,  in  a  book  to  be  kept  by  the  Public   Treasurer 

5  for  that  purpose;  and  in  every  instance  where  a  transfer  is 

6  made,  the  out-standing  certificate  shall  be  surrendered  and 

7  given  up  to  the  Pub'ic   Treasurer,  ctud  by  him  cancelled, 

8  and  a  new  one,  for  the  same  amount,  issued  in  its  place 

9  to  the  person  to  whom  the  same  is  transferred. 
XLIII.  That  the   State   shall  appoint  the  number   ofdi- 

2  rectors  in  said  company  in  proportion  to  the  stock  sub- 
B  scribed,  who  shall  be  appointed  by  the  Governor,  by  and 

4  with  the  advice  and  consent  of  his  Council,  and  removed 

5  in  like  manner. 

XLIV.  That  the  following  officers  and  servants  and  per- 


852 

2  sons  in  the  actual  employment  of  the  saixJ  company,  be, 

3  and  they   are  hereby  exempted  fr(  m  jury  and   ordinary 

4  military  duty:     The  president  and  treasurer  of  the  board 

5  of  directors,  and  chief  and  assistant  engineers,  the  secre- 

6  taiies  and  accountants  of  the  company,  keepers  of  the  de- 

7  positories,  guards  stationed  on  the  road  to  protect  it  from 

8  injury,  and  such  persons  as  may  be  Working  the  locomo- 

9  tive  engines  and  travelling  with  cars  for  the  purpose   of 

10  attending  to  the  transporting  ot  produce,  goods  and   pas- 

11  sengers  on  said  road. 

XLV.  Be  it  further  enacted,  That  all  the  works  hereby 

2  required  of  the  Beaufort  and   North  Carolina  Rail  Road 

3  Company  shall    be  executed  with  due  diligence,    and  if 

4  they  be  not  commenced  within  three  years  after  the  rati- 

5  fieation  of  this  act,  and  finished  within  ten  years  after  the 

6  period  of  their  commencement,  this  charter  shall  be  forfeit-- 

7  ed.. 


